Drive down the cost of your car insurance
From what affects car insurance prices to what you can do about it.
Whether reviewing your monthly budget for ways to cut costs or finding the best deals when renewing your car insurance, it may feel like you’re driving in circles.
Check out our video on how to help drive down the cost of your car insurance.
Transcript for video Drive down the cost of your car insurance
0:03
Most of us have seen our bills go up in recent months.
0:06
Your car insurance may have gone up as well due to the cost of car parts and repairs.
0:10
Also increasing car insurance is a legal requirements, but there are some things you can do to make sure you're not paying more than you need to.
0:18
You could consider a multi car policy.
0:20
If you have more than one car at your address, then insuring them all under one policy could save you money, as some insurers will offer a discount for each additional car you add.
0:29
Select the right level of cover for your needs.
0:32
Higher levels of cover give you more protection but at a higher premium.
0:36
The lower levels will be cheaper, but make sure they're covering everything you need.
0:41
Be sure to check your renewal.
0:43
If you've been with your insurer a while, check that your details are still up to date.
0:47
Otherwise you might miss the chance to save valuable pounds.
0:51
For example, if you're doing fewer miles than you used to, then update your policy to reflect this.
0:57
It's also worth double checking who's insured on your car.
1:00
If your teenager who had some lessons in your car is now 20 with a car of their own, but still the named driver on your policy, then removing them may lower your premium.
1:09
And finally, please don't cancel your insurance if you're struggling to pay your premium, get in touch with us, we might be able to help.
What factors affect car insurance prices?
There are many factors. Some of these are specific to you and you may have some influence over. The majority of factors, however, have to do with what’s happening in the insurance market and the world around you.
5 factors you can't influence:
- Total number of claims rising since 2013 with car thefts increasing 54%. Footnote [1]
- Changes in the claims market, particularly the uptick in personal injury and third-party claims over the last decade.
- Energy prices increasing since the start of the war in Ukraine. Footnote [2]
- The time taken to repair vehicles increased, as both staff and parts are in higher demand – this also, then, impacts how long courtesy cars are used, which further impacts costs. Footnote [3]
- Severe weather, from heat waves to heavy rain and snow, can lead to a surge in the cost of covering claims, which can cause a rise in our prices.
6 factors you can influence:
- where you live.
- your age.
- your mileage.
- the vehicle you drive.
- who drives your car.
- your driving history and experience.
For more details, check out our page explaining your car insurance price.
Our tips to help reduce your car insurance cost
With car insurance prices impacted by many factors, it may seem overwhelming to stick within your budget. But there are steps you can take to make sure you’re not paying more than you need.
Consider Multicar insurance
If you have more than one car at your address, then insuring them all under one policy could save you money (and hassle).
Evaluate the different levels of cover
Review your car insurance based on what you need. Yes, higher levels of cover give you more protection, but this comes at a higher premium.
Lower levels will be cheaper, but make sure they’re covering everything you need.
For example, with our Quotemehappy.com Essentials you can get a comprehensive car insurance policy without some cover elements like personal belongings, European cover, and windscreen or glass only claims.
Review your car insurance details
Looking through your car insurance details, especially when you’re due to renew can help you pinpoint changes. For example, you may be driving fewer miles, which could bring you some savings.
Check the named drivers on your policy
It’s important to double check who’s insured on your car. You may have popped your teenager on your policy as a named driver when they were a learner driver, but now they have a car of their own. Removing them from your policy may lower your premium.
Have car insurance prices gone up?
Yes, you’re not imagining it. If you’re curious and would like to dig a bit deeper on the reasons, check out why car insurance has gone up and what more you can do to help limit the costs.
Related articles
